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ATC acquiring Indian tower units from Vodafone and Idea for $1.2 billion
14 November 2017, 01:29 | Casey Mitchell
Voda Idea to sell tower assets to ATC for Rs 7,850 crore
Apart from intensified price competition and seasonal weakness as a result of the monsoon, the impact of the new GST increased the tax burden on the gross revenues to 18% (previously 15%), Vodafone said.
Vodafone Business Services, the enterprise services arm of Vodafone India, is contributing 19% of the company's total revenue or Rs 3610 crore approximately.
EBITDA margin shrunk to 21.4 per cent from 29.6 per cent, while service revenue dropped about 16 per cent to Rs 19,002 crore. Reliance Communications last week reported a consolidated loss of Rs 2,709 crore for the same period.
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Denise Foster and the 13-year-old daughter she shares with Mr Thornton, Mia, were inside at the time, but not injured. Homicide Squad detectives attended the scene and it is understood the man died of a single gunshot wound to the face.
"Amidst continuing intense competition, we recorded a gain of 0.6ppt in RMS in Q1FY18 (YoY) and delivered a stable performance overall.
We are making good progress in securing requisite approvals for our merger with Idea Cellular and in monetizing our tower assets", Sunil Sood, Managing Director and CEO, Vodafone India said.
Data traffic on its mobile network also grew as the company unleashed a host of data benefits under bundled data schemes.
The telco's average revenue per user stood at Rs 132 in the second quarter compared to Rs 141 in the first quarter of the financial year.
"Data usage exploding and usage/sub (for users 1MB for Q2FY18) at 2.7GB". Results were helped by solid performance by the company's strategic business areas, namely data and Vodafone Business Services. "Data usage growth led by higher smartphone penetration at over 38% of total customer base", the company said.
American Tower Corp has agreed to buy about 20,000 mobile phone masts for 78.5 billion rupees ($1.2 billion) from Idea Cellular and Vodafone India, who are seeking to merge.
"This transaction follows the Vodafone India/Idea merger announcement of 20 March, 2017 whereby the parties announced their intention to sell their individual standalone tower businesses to strengthen the balance sheet of the combined business", it said.
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The deputy prosecutor general also submitted a compliance report regarding the process of declaring them absconder. Judge Mohammad Bashir had issued non-bailable arrest warrants against them on Oct 2, which are still in effect.
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The stock now trading at Rs 400.6, down by Rs 10.5 or 2.55% from its previous closing of Rs 411.1 on the BSE. Bharti Airtel said it raised Rs 3,325 crore (USD 510 Million) by selling shares in its tower subsidiary.
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Invesco Limited reported 62,273 shares. (NYSE:CNS) news were published by: Prnewswire.com which released: "Cohen & Steers, Inc". The Fund's investment objective is high current income through investment in real estate and diversified preferred securities.